J.Crew Group emerges from financial restructuring
The Anchorage Capital Group is now the bulk owner of the J.Crew Group, an omni-channel retailer of women’s, men’s, and kid’s apparel, sneakers and accessories. It operates 170 J.Crew retail outlets, 142 Madewell outlets, and 170 J.Crew Manufacturing facility outlets in virtually every condition in the United States.
To assist ongoing operations and future advancement initiatives, the J.Crew Group is capitalised with a $400 million exit phrase bank loan thanks 2027 offered by Anchorage, GSO Capital Associates LP and Davidson Kempner Capital Administration LP, among the other individuals, the organization mentioned in a push release.
In addition, the organization has access to a new $400 million ABL credit rating facility thanks 2025 agented by Lender of America.
Fibre2Fashion Information Desk (DS)
The J.Crew Group in the United States not long ago announced it has productively accomplished its economical restructuring course of action and emerged from Chapter eleven-a sort of individual bankruptcy that involves a reorganisation of a debtor’s business affairs, debts and property. It is very well positioned for very long-phrase advancement right after equitizing far more than $one.6 billion of secured indebtedness.
